United News of Bangladesh

An increased supply of delicious hilsa at Chandpur fish landing centre has contributed to its price fall in local markets, bringing some relief to consumers ahead of the upcoming 22-day hilsa fishing ban starting on October 4. At the Boro Station Fish Market, traders and others said the supply of hilsa mounted over the past two to three days, averaging 1,000–1,200 maunds per day, compared to just 400–500 maunds previously. Wholesalers said that this surge has helped stabilise prices, but apparently still beyond the buying capacity of low-income groups. Shobe Barat Sarkar, secretary of the Fish Traders’ Association, and other traders said around 80–90 percent of the caught hilsa is small in size, with four fish making up one kilogram. Prices for such fish range from Tk 600–700 per kg while mid-sized hilsa sell for Tk 1,850–2,200 per kg. Hilsa slips out of reach as scarcity drives up prices in Khulna Smaller hilsa weighing 800–900 grams per kg are sold at Tk 1,600–1,800. Two women were seen purchasing hilsa at Tk 450 per kg while two private bank officials bought five hilsa each at Tk 1,950 per kg. Local vendors said the price drop, though daily-wage earners still find it difficult to afford even the reduced rates. Fresh local hilsa continues to arrive from the Padma and Meghna rivers, as well as southern regions including Hatiya, Sandwip, Ramgati, Charfesson, Barguna and Bhola, transported via trawlers, pick-ups and trucks. From Chandpur, the fish are distributed to Dhaka, Gazipur, Tongi, Jamalpur, Kishoreganj, Manikganj and Savar. Hilsa gets cheaper as veggies, onions, eggs, chicken cost more in Dhaka Senior traders Sheikh Amir Hossain, Delowar Hossain, Zakir Hossain, Russel Gazi, and Parimal Das of Harina Ghat said they are passing busy times to handle the huge supply of hilsa. Asked about the small size of hila, district fisheries officer Nibas Chandra Chand said he has joined the workplace recently, expressing reluctance to make comments in this regard.

The prices of vegetables in Dhaka’s kitchen markets have shown no sign of decline throughout the month, forcing consumers to reduce purchases to 250–500 grams instead of one kilogram. Frustrated buyers say the soaring prices have put additional pressure on their daily expenses. A visit to several wholesale and retail markets in the capital on Friday revealed that vegetable prices remain unchanged from last week. Hyacinth bean (shim) is being sold at the highest rate—Tk 200 per kg—while good quality round brinjal is going for Tk 150 a kg. Tomatoes and carrots are also selling for more than Tk 150 per kg. “One round brinjal weighs more than 250 grams. That means each piece costs Tk 40–50. We cannot afford to buy more than two,” said Sumona Akhter Ruby, a shopper at Uttar Badda kitchen market. Another consumer, Monsur Ahmed, said, “A quarter kilo of hyacinth bean costs Tk 50. Tomatoes are almost the same. With Tk 500, vegetables don’t last even two days for a family of four.” Prices of chicken, beef, milk, cucumber, and vegetables increase ahead of Eid Among other vegetables, yardlong beans (barboti) are selling at Tk 120–80 a kg, while sponge gourd, snake gourd, ridge gourd and okra are priced at Tk 80–100 a kg. Bottle gourd is selling for Tk 100–120 per piece and jali kumra for Tk 50–70 each. Traders said that previously they did not sell less than half a kilo of vegetables, but due to the high prices, they are now selling in 250-gram portions. “As wholesale prices are still high and supply is limited, we are forced to buy at higher rates. Sales are also lower now,” said Asadul, a vegetable seller at Motijheel AGB Colony market. The price of leafy greens has also gone up in line with vegetables. Just a month ago, spinach, water spinach and stem amaranth were Tk 10 per bunch, but now they are Tk 20. Pumpkin leaf, bottle gourd leaf and Malabar spinach (puishak) are being sold for Tk 50 a bunch. A visit to Karwan Bazar wholesale hub, however, showed that prices have dropped by Tk 10–15 per kg compared to last week, though this decline has not been reflected in the retail markets. The prices of small fish have also surged. Kachki fish is selling at Tk 600–800 a kg, river shrimp at Tk 1,000–1,200, local koi at Tk 800–1,000, punti at Tk 650–750 and gunchi at Tk 700 a kg. Despite an abundant supply of hilsa in the market, the prices remain beyond the reach of most middle-income consumers. Large hilsa is selling for Tk 2,200–2,500 a kg, medium-sized for Tk 1,800–2,000, and small ones for Tk 1,200–1,500. Prices of winter vegetables drop in Khulna, essentials continue to rise In the meat market, chicken prices remain unchanged—sonali chicken is selling for Tk 300–320 a kg, broiler at Tk 170, and local chicken between Tk 550 and 650 depending on location. Beef is selling at Tk 750–800 a kg, while mutton is priced at Tk 1,000–1,200 per kg. Consumers expressed frustration, saying that unless vegetable prices fall, it will be increasingly difficult to manage household expenses as a large portion of their monthly income is being spent on groceries.

Government official and traders have expressed mixed reactions over the price hikes of rice in Khulna as both sides provide contradictory information. However, low-income people are bearing the brunt of price hike as they struggle to meet their basic needs. Despite bumper yields in the last Boro season and imports from outside the country, rice prices in Khulna have spiraled out of control, leaving consumers worried. According to the Department of Agricultural Extension, Khulna produced 300,000 metric tonnes of Boro paddy this year, marking a bumper production. The food department has also been selling rice under the Open Market Sale (OMS) programme five days a week across Khulna city’s 31 wards, two municipalities and nine upazilas. Each ward receives one metric tonne of rice daily which will continue until new harvests arrive. It is learned that the government warehouses in the district hold 84,000 metric tonnes of rice. Imports are also ongoing whereas 50,000 metric tonnes of rice were unloaded from Pakistan in July at Chittagong Port while the country received 12,000 metric tonnes from India through Benapole and Bhomra land ports between June and August. Rice market remains volatile  despite large-scale imports from India The government even reduced import duty from 25% to 15% to stabilize the local market. Despite huge stock, consumers are facing abnormal prices, with rice selling between Tk 53 and Tk 80 per kg, hitting daily life. Md Zakir Hossain, assistant food controller of Khulna district, said coarse rice is selling at Tk 53–55, medium at Tk 57–61, Atap at Tk 48–50 and fine rice at Tk 73–74 per kg. He, however, claimed the rice market is falling as rice is being sold through the OMS. There have been allegations that traders provide wrong information to journalists when they visit the market, finding a disparity between the government data and traders. The owners of Annpunyo Traders and Halim Bhandar in Boro Bazar of Khulna city told this reporter during a visit to the market, that coarse rice is selling for Tk 47–50, imported varieties for Tk 50–56, Atap for Tk 42–45, fine rice for Tk 50–54, and local premium rice for Tk 54–58 per kg. Some traders reported Paijam rice being sold as high as Tk 80 per kg. Small traders and consumers blame corporate houses and large auto rice mill owners for stockpiling paddy after the harvest to manipulate supply and raise prices. Government aims to stabilize rice market, ensure trader support: Commerce Adviser “Farmers sell their crops immediately after harvest but corporate groups hoard paddy and later release rice at higher prices, hurting both consumers and small traders,” said Mojaher Ali, a farmer from Kharnia village in Dumuria.

The prices of vegetables remained high in the capital’s kitchen markets over the past three weeks, with most varieties selling above Tk 100 per kilogramme, leaving consumers frustrated. During visits to kitchen markets in Motijheel, Shantinagar, Malibagh, Rampura and Badda on Friday, many buyers were seen expressing anger over the spiralling prices. “Brinjal is still being sold at Tk 200 per kg. How is this even possible? Pointed gourd (Potol) that usually sells at Tk 50 a kg has now doubled in price,” said Shahnima Akter, a buyer at kitchen market in Badda area. “If the prices remain like this, how will low-income people afford vegetables?” she asked. Good quality round brinjal was found selling between Tk 180–220 per kg, long brinjal at Tk 140–160, and white brinjal at Tk 100–120 per kg. Other vegetables also witnessed price hikes. Pointed gourd was selling at Tk 80–100 a kg, teasel gourd at Tk 100, yardlong beans at Tk 100–120, ridge gourd at Tk 80–100, and bitter gourd at Tk 80–120 per kg. Vegetable prices soar in Dhaka's kitchen markets; no item below Tk 80 Tomato was being sold at Tk 160–180 per kg, cucumber at Tk 80–100, and carrot at Tk 140–180. Bottle gourd was priced between Tk 80–120 per piece, while ash gourd was selling at Tk 80–100. Papaya was the cheapest among vegetables, though its price rose by Tk 10 in the past week to Tk 40 per kg. Newly harvested beans entered the market at higher prices, selling at Tk 240–280 per kg. “Compared to other times, supply of vegetables has dropped by half. This season usually sees lower supply, and on top of that, extra tolls are being charged at different points. That’s why the prices are so high,” alleged Aslam, a vegetable trader in North Badda. Another trader, Monsur, said supply is likely to increase from mid-September, which may bring prices down slightly. Until then, consumers will have to bear with higher rates. Leafy greens have also become pricier. A bundle of water spinach, spinach or helencha, previously sold at Tk 10, was now priced at Tk 15–20. Bottle gourd and pumpkin leaves were selling at Tk 50–70 a bundle, up from Tk 30–40 earlier. Green chili was still selling at high prices — Tk 200–250 per kg. Onion prices eased slightly, retailing at Tk 65–70 per kg, while garlic was selling between Tk 120–180. Lentil prices, however, increased — with coarse lentils selling at Tk 140 and finer varieties at Tk 160 per kg. Prices of chicken, beef, mutton, and eggs remained unchanged. Broiler chicken was selling at Tk 170–180 per kg, Sonali chicken at Tk 300–320, and local chicken between Tk 580–650 per kg depending on size. A dozen brown eggs were selling at Tk 150 and white eggs at Tk 140. Beef was selling at Tk 750–800 per kg, while mutton was selling between Tk 900–1,100. Prices of chicken, fish rise in Dhaka’s kitchen markets Fish prices also showed little change. Hilsa remained highly priced, with fish weighing over one kg selling at Tk 2,500–2,800 per kg, one-kg hilsa at Tk 2,300–2,500, hilsa below one kg at Tk 1,600–1,800, and smaller ones at Tk 800–1,200. Giant freshwater prawns (golda) were selling between Tk 1,200–1,500 per kg, while tiger prawns (bagda) were priced at Tk 800–1,000. Rui was selling at Tk 300–350 per kg, catla at Tk 350–400, kalibaush at Tk 320–380, and tilapia at Tk 220–260. Market insiders said unless vegetable prices come down, the overall market will not return to stability. They also warned that persistent high prices of eggs, chicken, and fish may push up food inflation further next month.

While the prices of winter vegetables have decreased in Khulna, that of essential items such as rice, lentils, edible oil, chicken, and beef have surged, creating challenges for low- and middle-income consumers. Prices of all varieties of winter vegetables have dropped by Tk 8-10 per kilogram. However, despite regular monitoring and raids by the Directorate of Consumer Rights Protection, edible oil, chicken, beef, rice, and eggs remain expensive due to price manipulation by unscrupulous traders. Rice prices have seen a sharp increase. As of Friday, coarse rice (Swarna) was selling at Tk 54 per kilogram, Atash Balam at Tk 65, fine Miniket at Tk 75, lower-quality Miniket at Tk 65, Basmati at Tk 75-76, and Kalijira at Tk 120. In contrast, one and a half months ago, coarse rice was Tk 45-46, Miniket was Tk 70, and Kalijira ranged from Tk 110-115, reflecting an increase of Tk 5-6 per kilogram. Chicken prices have also soared. Broiler chicken was selling at Tk 200 per kilogram, layer chicken at Tk 340, cock chicken at Tk 320, Sonali chicken at Tk 320, and local chicken at Tk 470. Within two weeks, these prices have climbed beyond the purchasing power of many consumers, particularly those with limited incomes. Beef prices remain steep, selling at Tk 700-750 per kilogram in both urban and rural markets. Despite fines imposed during raids by mobile courts, beef prices have not decreased, drawing criticism from consumers. Read: Prices of meat, chicken, green chilli and vegetables still high despite falling demand The price of edible oil has surged again. Five-liter bottles of soybean oil were sold at Tk 875, or Tk 175 per liter. Loose soybean oil was priced at Tk 195 per liter, while super oil ranged from Tk 178-179 per liter. A week ago, five-liter bottles of soybean oil were sold at Tk 860, loose soybean oil at Tk 190, and super oil at Tk 180 per liter. Lentil prices, however, have remained stable. Fine lentils were priced at Tk 140 per kilogram, while coarse lentils sold for Tk 110. Sugar prices have slightly dropped. White sugar was selling at Tk 125 per kilogram, and packaged brown sugar at Tk 140. Previously, they were priced at Tk 140 and Tk 150, respectively. Egg prices remain high. Broiler eggs were priced at Tk 46 per dozen for red eggs and Tk 44-48 for white eggs in urban and rural areas. In contrast, vegetable prices have dropped significantly. New potatoes were priced at Tk 60 per kilogram, old potatoes at Tk 40, local onions at Tk 70, Kalikata onions at Tk 40, Indian onions at Tk 50, local garlic at Tk 240, and Chinese garlic at Tk 220. Cauliflower was sold at Tk 30, cabbage at Tk 20, turnips at Tk 30, winter beans at Tk 20, green chilies at Tk 60-80, eggplants at Tk 40-50, tomatoes at Tk 60, pumpkins at Tk 30, papayas at Tk 30, red spinach and Malabar spinach at Tk 20 per bunch, and bananas at Tk 20 per dozen. Two weeks ago, prices were notably higher. New potatoes were Tk 100, old potatoes Tk 70, local onions Tk 100, Kalikata onions Tk 60, cauliflower and cabbage at Tk 40, turnips at Tk 40, winter beans at Tk 40, green chilies at Tk 70-75, eggplants at Tk 60, tomatoes at Tk 100, pumpkins at Tk 40, papayas at Tk 30, spinach at Tk 35–40, and bananas at Tk 30 per dozen. Read more: Prices of egg, chicken and fish up while vegetables stable at higher rate Ripan Howlader, director of Apan Poultry Farm in Rupsha Traffic Mor, confirmed that chicken prices have risen significantly. Consumers like Hafizur Rahman, a college teacher, expressed concern about the high prices of essentials despite the drop in vegetable prices. He urged more frequent raids by mobile courts to stabilize prices. Consumers continue to demand stricter enforcement to control prices and ease the burden on low- and middle-income households.

Loose sugar was on Wednesday selling in Dhaka markets atTk135 to Tk 140 per kg – much higher than the government-fixed price – citing short supply. On April 8, the government set price at Tk104 per kg for loose sugar and at Tk 109 for packaged sugar. Consumers, however, complained the ceiling hardly worked. In the retail market packaged sugar has hardly been available. And even for the loose sugar the consumers have to pay Tk135 to 140 or per kg, up from Tk120 to 125 a kg last week. On Wednesday, during visits to different markets in the capital this correspondent saw no packaged sugar in the stores. Traders reported no supply of sugar since Eid-ul-Fitr festival late last month. The wholesale companies have failed to deliver citing short supply. Importers blame the short supply on the high price of sugar in international market affecting domestic supply. They are waiting for the government to decide if they would go for import at higher prices. They too have reduced imports due to higher prices. Read more: Sugar price reduced by Tk 3 per kg: Commerce Ministry According to the government agency, Trading Corporation of Bangladesh (TCB), the price of sugar increased by 15 percent in a month while it increased by more than 62 percent in one year. Salmat Sarder of Chadpur Store of Karwan Bazar told UNB that packaged sugar has not been available for a long time. Loose sugar purchased at the wholesale level is more than Tk130 per kg. Still, dealers are not giving purchase receipts.

Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consumers. The consumer price index for the 19 countries that used the euro currency rose 9.2% in December from a year earlier, the slowest pace since August, the European Union statistics agency Eurostat said Friday. Croatia joined the eurozone on Jan. 1. It was the second straight decline in inflation since June 2021. In November, the rate dipped to 10.1% after peaking at a record 10.6% in the previous month. Households and businesses across Europe have been plagued by surging energy costs since Russia launched its war in Ukraine in February, which played havoc with oil and natural gas markets and have been the main driver of inflation. The latest numbers indicate that the energy crisis may be easing for now. Energy price rises slowed to 25.7%, down from 34.9% in November and 41.5% in October. Natural gas prices have slipped from all-time highs this summer as Europe has largely filled its storage for winter with supplies from other countries while warmer-than-usual weather has reduced fears of a shortage during the heating season. Food price gains, the other big factor that's been driving up European inflation, held fairly steady. Prices for food, alcohol and tobacco rose at a 13.8% annual pace in December, a smidgen higher than the month before. Read more: Europe’s inflation likely hasn’t peaked, says central bank chief Lagarde Inflation also has been worsened by bottlenecks in supplies of raw materials and parts amid rebounding global consumer demand after COVID-19 pandemic restrictions ended. “It is likely that the peak in inflation is behind us now, but far more relevant for the economy and policymakers is whether inflation will structurally trend back to 2% from here on,” said Bert Colijn, senior eurozone economist at ING Bank. So-called core inflation, which excludes volatile food and energy costs, climbed to 5.2% last month from November's 5%, as prices rose for both services and goods such as clothing, appliances, cars and computers. Colijn and other economists said that means European Central Bank officials will likely roll out more interest rate hikes to get inflation back to their 2% target. Soaring costs for energy and food have threatened a recession and fed labor unrest as wages fail to keep pace with the price rises. Across Europe, subway staff, hospital workers, train drivers, postal workers and air traffic controllers have gone on strike, threatening political turmoil. In a sign that energy costs remain a worry for political leaders, French President Emmanuel Macron on Thursday urged energy suppliers to renegotiate what he called “abusive contracts” with small businesses to ensure “reasonable" price hikes. Macron spoke to bakers gathered at the presidential palace for a traditional Epiphany kings cake ceremony, underscoring how energy and food prices are intertwined. “Like you, I’ve had enough of people making excessive profits on the crisis," he said. The French government has capped natural gas and electricity price hikes to 15% this year for consumers and some very small companies that don't use much energy. But more energy-intensive businesses, like bakeries, aren't covered, leaving some of them facing closure because they can't pay their bills. While governments have offered relief on high energy bills, central banks are battling inflation by hiking interest rates. Last month, the European Central Bank raised its benchmark rate by half a point, slowing its record pace of interest rate increases slightly but promising that more hikes are on the way. It matched actions taken by counterparts in the U.S., United Kingdom and elsewhere. Read more: Record inflation puts the squeeze on Eurozone economies “The eurozone economy is at best stagnating, and persistently strong core inflation means the ECB will feel duty bound to press on with its tightening cycle for a while yet,” said Andrew Kenningham, chief Europe economist for Capital Economics.

From now Samsung TVs will be available at the official outlets of Singer. Samsung recently came into an agreement with Singer Bangladesh to provide customers the opportunity to buy Samsung TVs from Singer outlets. A Singer Samsung partnership celebration event took place Thursday at Singer Mega Store in Shewrapara, Dhaka. Read more: Samsung Bangladesh brings new B Series TVs Samsung Bangladesh Country Manager Hwansung Woo and Singer Bangladesh Director and Head of Business (Consumer Electronics Division) Shahriar Bin Lutfor were present, according to a media statement. Woo said: "With this partnership, we are hopeful of strengthening our relationship with Singer as well as making Samsung TV more accessible for our beloved customers." Read More: 10 Smart TVs Under Tk50000 in Bangladesh Fairoz said: "With this new partnership with Singer consumers will be able to get Samsung television at our stores across the country with convenient purchase options such as Singer's unique in-house hire purchase facility."

After submission of a review appeal by state-owned BPDB to raise bulk power tariff, now distribution companies are likely to submit their respective proposals to raise retail power tariff, official sources said. According to a top level source at the Power Division, the Bangladesh Power Development Board (BPDB) will submit its proposal to the Bangladesh Energy Regulatory Commission (BERC) to enhance retail power tariff on Sunday next while other distribution entities will submit their respective proposals within the next week.    State Minister for Power, Energy and Mineral Resources Nasrul Hamid also said that the distribution entities are preparing their proposals to submit to the energy regulator seeking a substantial hike in the electricity tariff at retail level. “Power distribution companies are now working to prepare their proposals…They are calculating the possible impact on any hike in the bulk tariff,” he told UNB. The BPDB sources said the government is expecting that the BERC will announce its decision on the review appeal on bulk tariff on any day in the next week. “We hope, BERC will raise the bulk tariff by at least 20 percent,” said a top official of the BPDB, adding that, considering a possible 20 percent hike, the BPDB is seeking at least 12 percent hike in retail tariff of electricity.    He also said all the distribution companies may submit an identical proposal in consultation with the Power Division where they may seek between 12-16 percent hike in the retail tariff. Read more: Decision on bulk power tariff ‘adjustment’ Thursday The retail power tariff was last raised in March, 2020 by BERC after holding a public hearing. Through an announcement, the BERC had raised the power tariff on a weighted average by 5.3 percent at retail and 8.4 percent at wholesale levels with effect from March 1, 2020. As per that decision, the retail power tariff was increased from Tk 6.77 to Tk 7.13 per unit (each kilowatt-hour) and Tk 4.77 to Tk 5.17 at bulk level. There are six power distribution entities in the country which sells electricity to retail consumers across the country. They are BPDB, Bangladesh Rural Electrification Board (BREB), Dhaka Power Distribution Company Limited (DPDC), Dhaka Electric Supply Company Limited (Desco), Northern Electricity Supply Company PLS (Nesco), West Zone Power Distribution Company Limited (WZPDCL). On the other hand, BPDB is also a single buyer of bulk electricity in the power sector, which itself generates power and also buys electricity in bulk from different power generation companies and sells it to the distribution companies. The distribution entities sell electricity in retail to the consumers. The Power Division is under tremendous pressure from the Finance Ministry to raise power tariff in bulk and retail to cover its huge financial losses. The recent commitment of the International Monetary Fund (IMF) to provide a $4.5 billion loan has increased the pressure as the donor agency has tagged a condition to decrease subsidy in the power sector and raise power tariff to cover the loss, said a Power Division official. Read more: BPDB submits review appeal to raise bulk power tariff Against the backdrop, he said, both the BPDB and distribution entities have initiated a move to place their respective proposals to the BERC to raise power tariff in bulk and retail. The BPDB on November 14 submitted its review appeal to the BERC to raise the bulk power tariff which remains pending for decision. The original proposal was rejected by BERC on October 13 as there was "data ambiguity". In the original proposal placed in May this year, the BPDB sought a rise in bulk power tariffs by 65.57 percent while a technical evaluation committee of BERC recommended a 57.83 percent hike. The BPDB showed that it will require Tk 74,189 crore in revenue to generate 88,993 million kilowatt hours (units) of electricity to supply to the power distribution companies. But if the BPDB sells its electricity at the existing rate of Tk 5.17 per unit, it will have to face a deficit of Tk 30,251 crore in revenue in the calendar year 2022. So, BPDB needs to raise the power tariff by 65.57 percent to Tk 8.56 per unit from Tk 5.17. Sources said the latest calculation reveals that the BPDB’s revenue deficit has further increased to about Tk 48,000 crore following the hike in petroleum fuel prices and also the price of dollars. Read more: Electricity price to remain unchanged for now “Previously we had calculated the dollar exchange rate at Tk 85. But now we have to calculate at Tk 107,, said a top official BPDB on condition of anonymity.  

Prepaid meter recharging of Dhaka Electric Supply Company Limited (Desco) will remain suspended for 50 hours from Thursday night. According to a Desco public notice, all kinds of prepaid meter recharging of its consumers will remain suspended from 9.59 pm on Thursday to 11.59 on Saturday due to technical improvement works. Read:Desco’s underground cabling plan misses JICA deadline for its own fault The Desco requested all its prepaid meter consumers to keep adequate balance in their prepaid meters to ensure uninterrupted power supply during the period and also advised to contact the phone number: 16120 for any requirement. Desco regrets the temporary inconvenience of its consumers. Desco is responsible for power distribution to 400 square kilometers of the Dhaka city’s west, north-west and part of eastern areas including Mirpur, Pallabi, Kafrul, Kalyanpur, Cantonment, Gulshan, Banani, Mohakhali, Uttara, Uttar Khan, Dakshin Khan, Baridhara, Badda, Tongi and Purbachal. Read:Desco to provide smart prepaid meters to all customers by 2023 Among its 10,61,848 consumers, some 5,72,692 consumers use prepaid meters to get the electricity supply.